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Banking Industry Solutions

SWIFT Implementation

SWIFT (the Society for Worldwide Interbank Financial Telecommunication) provides financial data communication and processing services to support the business activities of worldwide financial institutions for securities, payments, foreign exchange and money markets, as well as trade finance. Its dedicated telecommunications network guarantees the rapid, cost-effective, secure and reliable transmission of financial data using a range of ISO-compliant standardized messages that have been developed by SWIFT.

Business Challenges

Banks and Financial Institutions expect a secure data transfer between themselves using SWIFT. Some of the vendors/ Transfer agencies insist on using SWIFT framework for financial data communications and hence Banks initiate the implementation of SWIFT framework.